The value of the exports of jute goods to India have dwindled by at least Tk 775.79 crore in the period from January to November compared to the corresponding period last year after New Delhi imposed anti-dumping duties on certain jute products from Bangladesh, disclosed sources at the Benapole Customs House on Sunday.

Year on year, jute goods exports slumped 52 per cent to 1.4 lakh tonnes during January to November. This figure was 2.7 lakh tonnes during the corresponding period last year, according to data from the Benapole Customs House.

Total export earnings from jute exports were around Tk 944.79 crore while the amount was Tk 1,720.13 crore last year.

Sources said the export earnings came only from raw jute exports this year as the exports of jute products have already declined drastically following anti-dumping export duties imposed by India’s finance ministry on certain jute products—jute yarn/twine, hessian fabric and jute sacking bags—from Bangladesh and Nepal on January 5 this year.

The anti-dumping duties—which would be in force for five years—ranged from US $6.30 to $351.72 per tonne, depending on the producer and country of exports.

Talking to The Independent, an official of the Benapole Customs House said, “During the last three months, the value of exports of jute products have fallen by at least Tk 775.79 crore.”

He further said 30 to 40 trucks carrying jute products for exports would pass through Benapole port every day, but this number has come down to 20 trucks per day—at the most.

He also said shipments from Benapole land port, which handles over 90 per cent of Bangladesh's jute exports to India, fell in both January and February this year.

Jute is the third-largest export sector of Bangladesh in terms of earnings, after garments and leather, and India is one of the biggest markets for these goods.

According to the data of the Directorate of Jute, Bangladesh exported 17 per cent, or 1.41 lakh tonnes out of 8.25 lakh tonnes of jute goods, in the financial year 2015–16.

Considering that the overall exports to India were worth $689 million, the share of jute and jute goods was 37 per cent in the fiscal year 2015–16, according to data from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Earlier, the joint secretary of the commerce ministry (FTA), AHM Ahsan, told The Independent that India imposed anti-dumping duties on imports of jute goods “to basically save its own industry”. He also said Bangladesh can provide quality jute yarn/twine, hessian fabric and jute sacking bags at cheaper rates compared to India.

Bangladesh usually exports processed jute-made goods like yarn, twine, sacks and bags worth around USD 700 million a year to many world destinations. Of this, the Indian market accounts for 20 per cent, which is equivalent to 8 per cent of the entire Indian local market share.

The Dhaka Chamber of Commerce and Industry (DCCI) made these observations while expressing its concern over the anti-dumping duty on the exports of Bangladeshi jute to the Indian market.

In October, at a business talk with the Indian finance minister, Dhaka urged New Delhi to lift the anti-dumping duty imposed on exports of Bangladeshi jute and jute-made products, saying that the measure contributed to a further widening of the bilateral trade imbalance.

Commerce minister Tofail Ahmed called on the visiting Indian finance minister, Arun Jaitley, during the bilateral business meeting during the latter’s visit to Dhaka last October.

"I really hope the Indian government will review the matter," Ahmed said while reflecting on the trade scenario between the two next-door neighbours.

Ahmed’s request came at a time when Bangladesh's jute exports to India are undergoing a downturn because of the aforementioned antidumping duties imposed on the natural fibre-based products coming from Bangladesh.